PPP Loan Data — Wolfe & Wyman LLP, Irvine, CA
Wolfe & Wyman LLP is a partnership located at 2301 Dupont Dr in Irvine, California that received a Coronavirus-related PPP loan from the SBA of $1,615,716.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 93 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:American Business Bank
Wolfe & Wyman LLP in Irvine, CA received a Paycheck Protection Loan of $1.62M through American Business Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in January, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Wolfe & Wyman LLP's 2019 payroll expenses are estimated to be at least $7.76M.
Based on their reported 93 jobs retained, this equals an estimated average yearly compensation of $83,392 per employee1
Reported PPP Proceed Usage:
On the PPP application, Wolfe & Wyman LLP reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,615,716
Business Information - Wolfe & Wyman LLP in Irvine, CA
2301 Dupont Dr
Irvine, CA 92612
Offices of Lawyers
NAICS code 541110
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Irvine
In the Irvine area, 185 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 93) and received an average PPP loan of $116,409 (compared to this company's $1.62M).
Similar Nearby Businesses Who Received PPP Funding:
Jacobs & Dodds
The Montes Law Firm, APC
Arthur R. Knowlson, Jr., A Professional Corporation
Corey Miller. PC
Lemkin Barnes & Row Inc
The Bisol Firm, APC
The Busch Firm, A Professional Corporation
Darling & Risbrough, LLP
Law Offices Of Aria Miran, APC
Industry PPP Comparison Statistics
Nationwide, 200,895 businesses in the "Offices of Lawyers" industry received a total of $16.38B in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 6 employees, 94% lower than Wolfe & Wyman LLP's reported 93 employees, and received an average PPP loan of $81,518, 95% lower than this company's loan of $1.62M.
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Footnotes & Information
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